Paul A. Schmitt Music Company

58
Form 5500 Data

Overview

Plan Rating

BrightScope Rating
58
Lowest Rating in Peer Group
Average Rating in Peer Group
Highest Rating in Peer Group
0102030405060708090100
Lowest in Peer Group (34)
Average in Peer Group (62)
Highest in Peer Group (86)

Plan Description

Schmitt* Flex Retirement Savings Plan is a defined contribution plan with a profit-sharing component and 401k feature. This plan has a BrightScope Rating of 58. This plan is in the top 15% of plans for Account Balances. Schmitt* Flex Retirement Savings Plan currently has over 200 active participants and over $13.2M in plan assets.

Did you know?

For the average 401k participant, the 28 point difference between this plan's BrightScope Rating (58) and the top rated plan (86) could equate to:
14
Additional years of work
129,777
Lost Savings
*The delay in retirement calculations apply solely to this defined contribution plan and do not take into account other retirement plans and programs offered by this employer. How is this calculated?

Plan Details

Plan Details Relevant details about the plan and the plan sponsor, including the address and industry of the plan sponsor and the size of the plan in assets and participants.

 
Plan data accurate as of 12/31/2019
Plan data has been audited by an Independent Qualified Public Accountant (IQPA).
Address 2400 Freeway Blvd
  • Location
    Brooklyn Center , MN
  • 55430
  • Industry
    Musical Instrument and Supplies Stores
  • Administrator
    Robert Baker
  • Net Plan Assets
    $13,200,000
  • Total Participants
    230
  • Avg Account Balance
    $110,000

Plan Components

Component Ratings

Design

Total Plan Cost:
Average Fees
Company Generosity:
Below Avg.

Performance

Participation Rate:
Below Avg.
Salary Deferrals:
Average
Account Balance:
Great

Design

Total Plan Cost:
Average Fees
Company Generosity:
Poor

Performance

Participation Rate:
Poor
Salary Deferrals:
Below Avg.
Account Balance:
Above Average

Peer Group Plans

Company Rating
Provo Craft & Novelty 74.8
K2 Sports LLC 73.3
Haas Outdoors 71.0
Kevin 66.6
Ganz U.S.A., LLC 61.6
Health Plus Manangement LLC 48.1

Top Industry Articles

Investments

Investment Menu Stats

# of Investment Options

24

(Plan Average: 20)

Largest Funds in this Plan Allocation of Assets 1 YR Rank in Category
The Premier Trust Fund of FMT 17%
N/A
First Mercantile Trust LifeStyle Moderate Growth Strategy 13%
N/A
First Mercantile Trust SMID Diversified Growth 11%
N/A
Fund hidden
100%
Fund hidden
100%
Fund hidden
100%
Fund hidden
100%
View all funds in this plan

Providers

Plan Service Providers

SERVICE PROVIDER
Administration
First Mercantile
Recordkeeper
First Mercantile
Investment Adviser
Raymond James & Associates, Inc.
Auditor
CliftonLarsonAllen LLP

Articles and Questions

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